{"id":1004213958,"date":"2018-03-27T04:18:04","date_gmt":"2018-03-27T12:18:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004213958"},"modified":"2022-12-08T23:23:54","modified_gmt":"2022-12-09T07:23:54","slug":"jll-spark-buys-cre-software-company","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-spark-buys-cre-software-company\/","title":{"rendered":"JLL Spark Buys CRE Software Company"},"content":{"rendered":"

By Scott Baltic<\/p>\n

\"Yishai<\/a>

Yishai Lerner, Heath Silverman, Jonah Schwartz and Mihir Shah<\/p><\/div>\n

JLL Spark, a division of JLL<\/a>, has acquired a software-as-a-service (SaaS)-based real estate technology platform. Stessa\u2014\u201cassets\u201d spelled backwards\u2014reportedly lets investors in income properties easily and cost-effectively track, manage and communicate the performance of their portfolios.<\/p>\n

This is JLL Spark\u2019s first strategic acquisition since its inception last year and is touted as delivering on the company\u2019s mission \u201cto transform the real estate industry through technology-based innovation.\u201d<\/em> Both JLL Spark and Stessa are headquartered in San Francisco.<\/p>\n

Structured by JLL to operate independently and without the typical constraints of corporate \u201cinnovation\u201d or venture arms, JLL Spark is led by Mihir Shah and Yishai Lerner. The two are Silicon Valley entrepreneurs with track records of building and investing in tech companies, who have a direct line to JLL\u2019s global CEO.<\/p>\n

\u201cOptimizing a real estate portfolio can involve tedious manual effort, which is why many investors see suboptimal returns<\/em>,\u201d Co-CEO Shah said in a prepared statement. \u201cWe chose Stessa as our first acquisition because its innovative product fills a gap in the market for small-to-medium investors<\/em>.\u201d<\/p>\n

Stessa was reportedly \u201cbuilt by real estate investors for real estate investors<\/em>\u201d and intends to make CRE asset management \u201cas easy as traditional investment categories such as equities<\/em>.\u201d<\/p>\n

\u201cAs real estate investors ourselves, we created Stessa to solve the biggest pain points associated with our own investments: ongoing asset management and portfolio optimization<\/em>,\u201d said Heath Silverman, CEO & co-founder of Stessa.<\/p>\n

Filling an important gap<\/h2>\n

While many software tools provide valuation, performance benchmarking, real-time analysis and ongoing optimization to equity investors, JLL Spark contends that few such capabilities exist in CRE. Stessa\u2019s platform reportedly solves this problem, by giving property owners \u201creal-time views into their holdings, resulting in increased transparency across their real estate assets,<\/em>\u201d while also streamlining burdensome paperwork and reporting requirements.<\/p>\n

Stessa also promotes its bank-grade encryption, using multi-layer key management encryption for all sensitive information, and its strict internal controls.<\/p>\n

Stessa\u2019s software has been in beta-testing for the past year with a select group of early customers representing nearly half a billion dollars in income properties, according to JLL Spark.<\/p>\n

Image courtesy of JLL<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The San Francisco-based firm purchased a software-as-a-service real estate technology platform that, among other things, lets investors manage their portfolios’ performance.<\/p>\n","protected":false},"author":882,"featured_media":1004213967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,23891,21742,21787],"tags":[32796],"class_list":["post-1004213958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-national","category-latest","category-technology","tag-jll"],"acf":[],"yoast_head":"\nJLL Spark Buys CRE Software Company - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jll-spark-buys-cre-software-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Spark Buys CRE Software Company\" \/>\n<meta property=\"og:description\" content=\"The San Francisco-based firm purchased a software-as-a-service real estate technology platform that, among other things, lets investors manage their portfolios' performance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jll-spark-buys-cre-software-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-27T12:18:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:23:54+00:00\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Yishai-Lerner-Heath-Silverman-Jonah-Schwartz-and-Mihir-Shah.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jll-spark-buys-cre-software-company\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jll-spark-buys-cre-software-company\/\",\"name\":\"JLL Spark Buys CRE Software Company - 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